Quantec is a consultancy providing economic and financial data, country intelligence and quantitative analytical software.
June 11, 2019
South Africa’s real GDP contracted by 3.2%, quarter-on-quarter seasonally adjusted and annualised (q/q saar), in the first quarter of 2019 from 1.4% recorded in the previous quarter. Although this was below consensus expectations, our forecast was for an even bigger decline of some 5% q/q (saar). The GDP weakening was mostly due to a 13.2% (q/q saar) contraction in the agricultural sector and a 10.8% decline in mining. However, the data clearly reflect broad-based weakness in the economy, owing to low levels of confidence, bad economic policies and electricity supply disruptions.
Subscribers to EasyData can download the complete report in PDF format on www.easydata.co.za.
Share this article on